Business Tips Every Entrepreneur Needs to Know

The right approach can mean a world of difference in business. Part of setting up a long-term plan is knowing where the problem spots are, as well as which business philosophies work better for which industries.

This is also why having a strong group of peers and mentors is so important for leaders: An outside perspective, or someone who has already faced a similar misstep, can mean all the difference between struggling and finding success.

Find out more on why every entrepreneur needs mentorship here: https://foundersafrica.com/why-you-need-a-business-mentor/

Research and Understand Your Market

Take the time to do market research and really listen closely to your ideal client’s needs. Get really in tune with them to know where they’re at right now: That is different to where you would like them to be.

Take this intel and craft it into an irresistible solution for them to be able to get easier yeses in your business.

Put in The Hard Work

Starting a business is exponentially harder than another other job. Successful entrepreneurs need to operate well across a variety of functions: sales, marketing, finance, operations, HR, etc.

On top of that, creating an enterprise from scratch requires creativity, persistence and continuous learning.

Listen to Your Clients

Truly listen and empathize with your clients. Everyone is so interested in getting their own personal message across, that no one pauses for a moment to actually listen and hear the root of the problem or pain.

Believe in listening 80% of the time, clarifying 10% of the time, and responding wholeheartedly and intentionally, is the remaining 10% of the time.

Learn with A Team

Most leaders settle for learning by themselves. They read a book or attend a conference by themselves. Good leaders learn with the help of a mentor. A coach can come alongside a leader and help the leader see things from a different perspective. The best leaders learn with a team.

An old proverb teaches that where there are many advisors, there is much success.
when considering starting a new business venture, despite the fear it may not work out.

One needs to adopt the mindset that the whole journey is a big experiment and that “failure” is not an option, because ultimately it is learning and growth that we will get. Focusing on the rewards instead of the fear is the real key to success.

Network with Experienced Executives

Take any opportunity to network and learn from more experienced executives, as well as to be mentored and coached by some of them.

Further, exposure to specific meetings, boardroom discussion, and strategic planning would be utterly beneficial.

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We interview founders across Africa, and feature African startups.

If you run a business or startup in Africa, or know anyone who does, we’d love to tell that story!

To reach us for founder/startup feature, send a mail to editor@foundersafrica.com or fill this form.

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